Citi Posts Financial Metrics for Q3 2021 with Net Income up YoY 48%

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Citigroup Inc. (Citi), one of the largest banks in the world, has released its financial metrics for the third quarter of 2021, revealing that its net income across the firm enjoyed a good growth of YoY 48%, at $4.6 billion.

The bank noted that the earnings per share rose

 by YoY 58% to $2.15, reflecting the growth in net income, as well as a 3% decline in shares outstanding. Whereas, its revenue showed a slight decline of YoY 1% at $17.2 billion, including a pre-tax loss of approximately $680 million related to the sale of the Australia consumer business in Global Consumer Banking.

The banking giant highlighted that regarding its Institutional Clients Group, the revenues increased by YoY 4% to $10.8 billion, primarily driven by higher revenues in Investment Banking,  Equity Markets and Securities Services, which stood at $1.9 billion with an increase of YoY 39% , $1.2 billion with an increase of YoY 40%, and $692 million with an increase of YoY 10%, respectively.